Summary: H.R.1060 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for H.R.1060. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/15/2001)

Credit Card Predatory Practices Prevention Act of 2001 - Amends the Consumer Credit Protection Act to prohibit as unfair and deceptive specified creditor practices with respect to a credit card account under an open-end consumer credit plan, including practices involved in: (1) credit card solicitations; and (2) account administration.

Provides for notice to the consumer of failure to qualify for credit, and the reasons therefor.

Permits State authorities to bring an action to enjoin violations of this Act and enforce compliance.